8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

March 28, 2023

Date of Report (date of earliest event reported)

OPORTUN FINANCIAL CORPORATION

(Exact Name of Registrant as Specified in its Charter)

Commission File Number 001-39050

Delaware		45-3361983
State or Other Jurisdiction of <br>Incorporation or Organization		I.R.S. Employer Identification No.
2 Circle Star Way
San Carlos,	CA	94070
Address of Principal Executive Offices		Zip Code

(650) 810-8823

Registrant’s Telephone Number, Including Area Code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.0001 par value per share	OPRT	Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01. Other Events

On March 28, 2023, Oportun Financial Corporation (the “Company”) issued a press release providing an update on the previously disclosed Civil Investigative Demand (“CID”) issued by the Consumer Financial Protection Bureau (the “CFPB”). The Company announced that the CFPB had completed its investigation and concluded that it would not recommend pursuing an enforcement action against the Company. The Company continues to believe that its business practices have been in full compliance with applicable laws.

A copy of the press release is attached hereto as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits

Exhibit Number
99.1	Press Release dated March 28, 2023.
104	Cover Page Interactive Data File embedded within the Inline XBRL document

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

OPORTUN FINANCIAL CORPORATION
(Registrant)
Date:	March 28, 2023	By:	/s/ Jonathan Coblentz
			Jonathan Coblentz
			Chief Financial Officer and Chief Administrative Officer
			(Principal Financial Officer)

Document

Oportun Informed by Consumer Financial Protection Bureau that it has Concluded its Investigation of Oportun and will not Recommend any Enforcement Action

SAN CARLOS, Calif., March 28, 2023 – Oportun (Nasdaq: OPRT), a mission-driven fintech and digital banking platform, today announced that the Consumer Financial Protection Bureau (CFPB) has informed Oportun, via letter, that the agency has completed its investigation of the Company. In its letter, the CFPB stated that its Office of Enforcement staff concluded that it would not recommend pursuing an enforcement action against the Company.

The Bureau was assessing Oportun’s legal collection practices from 2019 to 2021, along with its hardship program during the COVID-19 pandemic. As it has maintained throughout its engagement with the CFPB on this matter, the Company continues to believe that its business practices have been in full compliance with applicable laws.

For more information about Oportun, visit Oportun.com.

About Oportun Oportun (Nasdaq: OPRT) is a digital banking platform that puts its 1.9 million members' financial goals within reach. With intelligent borrowing, savings, budgeting, and spending capabilities, Oportun empowers members with the confidence to build a better financial future. Since inception, Oportun has provided more than $15.5 billion in responsible and affordable credit, saved its members more than $2.3 billion in interest and fees, and helped our members save an average of more than $1,800 annually. For more information, visit Oportun.com.

Investor Contact

Dorian Hare

(650) 590-4323

ir@oportun.com

Media Contact Usher Lieberman

(650) 769-9414 usher.lieberman@oportun.com